C723 BUS 3100
Quantitative Analysis for Business
Comprehensive FA Review (Qns & Ans)
2025
1. Which of the following best describes the purpose of linear
programming in business?
- A) To forecast future sales
- B) To optimize resource allocation
- C) To analyze market trends
- D) To develop marketing strategies
©2024/2025
, - ANS: B) To optimize resource allocation
- Rationale: Linear programming is used to determine the
best possible allocation of limited resources to achieve a specific
objective.
2. What is the primary goal of regression analysis in business?
- A) To identify causal relationships
- B) To reduce production costs
- C) To improve employee performance
- D) To enhance customer satisfaction
- ANS: A) To identify causal relationships
- Rationale: Regression analysis helps identify the
relationship between dependent and independent variables,
allowing businesses to understand causal effects.
3. Which of the following is a characteristic of a normal
distribution?
- A) Skewed to the right
- B) Skewed to the left
- C) Symmetrical around the mean
- D) Bimodal
- ANS: C) Symmetrical around the mean
©2024/2025
, - Rationale: A normal distribution is symmetrical around its
mean, with most data points clustering around the center.
4. What does the term "standard deviation" measure in a data
set?
- A) The average value
- B) The range of values
- C) The spread of values around the mean
- D) The median value
- ANS: C) The spread of values around the mean
- Rationale: Standard deviation measures the dispersion or
spread of data points around the mean.
5. Which of the following is an example of a quantitative
forecasting method?
- A) Delphi method
- B) Market research
- C) Time series analysis
- D) SWOT analysis
- ANS: C) Time series analysis
- Rationale: Time series analysis is a quantitative method
used to forecast future values based on historical data.
©2024/2025
, Fill-in-the-Blank Questions
6. The process of using mathematical models to make decisions
and solve problems is known as __________.
- ANS: Quantitative analysis
- Rationale: Quantitative analysis involves the use of
mathematical models and techniques to analyze data and make
informed decisions.
7. __________ is a statistical method used to estimate the
relationship between a dependent variable and one or more
independent variables.
- ANS: Regression analysis
- Rationale: Regression analysis helps identify and quantify
the relationship between variables.
8. A __________ is a graphical representation of the distribution
of a data set.
- ANS: Histogram
- Rationale: A histogram displays the frequency distribution
of data points in a graphical format.
©2024/2025
Quantitative Analysis for Business
Comprehensive FA Review (Qns & Ans)
2025
1. Which of the following best describes the purpose of linear
programming in business?
- A) To forecast future sales
- B) To optimize resource allocation
- C) To analyze market trends
- D) To develop marketing strategies
©2024/2025
, - ANS: B) To optimize resource allocation
- Rationale: Linear programming is used to determine the
best possible allocation of limited resources to achieve a specific
objective.
2. What is the primary goal of regression analysis in business?
- A) To identify causal relationships
- B) To reduce production costs
- C) To improve employee performance
- D) To enhance customer satisfaction
- ANS: A) To identify causal relationships
- Rationale: Regression analysis helps identify the
relationship between dependent and independent variables,
allowing businesses to understand causal effects.
3. Which of the following is a characteristic of a normal
distribution?
- A) Skewed to the right
- B) Skewed to the left
- C) Symmetrical around the mean
- D) Bimodal
- ANS: C) Symmetrical around the mean
©2024/2025
, - Rationale: A normal distribution is symmetrical around its
mean, with most data points clustering around the center.
4. What does the term "standard deviation" measure in a data
set?
- A) The average value
- B) The range of values
- C) The spread of values around the mean
- D) The median value
- ANS: C) The spread of values around the mean
- Rationale: Standard deviation measures the dispersion or
spread of data points around the mean.
5. Which of the following is an example of a quantitative
forecasting method?
- A) Delphi method
- B) Market research
- C) Time series analysis
- D) SWOT analysis
- ANS: C) Time series analysis
- Rationale: Time series analysis is a quantitative method
used to forecast future values based on historical data.
©2024/2025
, Fill-in-the-Blank Questions
6. The process of using mathematical models to make decisions
and solve problems is known as __________.
- ANS: Quantitative analysis
- Rationale: Quantitative analysis involves the use of
mathematical models and techniques to analyze data and make
informed decisions.
7. __________ is a statistical method used to estimate the
relationship between a dependent variable and one or more
independent variables.
- ANS: Regression analysis
- Rationale: Regression analysis helps identify and quantify
the relationship between variables.
8. A __________ is a graphical representation of the distribution
of a data set.
- ANS: Histogram
- Rationale: A histogram displays the frequency distribution
of data points in a graphical format.
©2024/2025
